We’re excited to announce a new enhancement that is coming soon:
Starting August 1, Income Lab will automatically calculate the Social Security Retirement Earnings Test and adjust projected benefits based on earned income before Full Retirement Age (FRA).
Until now, incorporating earnings-based Social Security benefit adjustments required entering those adjustments manually in the “Other Income” section of a plan. The coming update will ensure more accurate benefit projections and save you time when planning for clients who claim benefits before FRA but continue working.
Please note:Â When this new feature is launched, plans with benefits entered using the standard Social Security inputs may show differences if those benefits begin before FRA and are accompanied by earned income.
If you have any questions or would like to learn more about how you can grow your practice with Income Lab, contact us today!